Bank of Ghana researchers urge AI-driven approach to inflation tracking

Researchers at the Bank of Ghana (BoG) are advocating the use of big data and artificial intelligence to improve inflation monitoring, arguing that technology could help policymakers obtain faster estimates of price movements and respond more promptly to emerging economic pressures.According to the researchers, Francis Mawuli Abude, Collins Kwesi Appiah and Julius B. Dasah, their proposed framework, dubbed e-Inflation, uses automated data collection from 120 websites to estimate headline, food and non-food inflation in near real time.